Palo Alto Networks is in talks to acquire Clutch Security for $500 million in cash plus milestones.
Clutch specializes in securing AI agents' access to enterprise systems and is approaching $10 million in annual recurring revenue.
The history and value of Clutch Security
Clutch Security is three years old and was valued at $85 million in its last funding round in January 2025, following a $20 million funding round led by Lightspeed and SignalFire. The company is now approaching $10 million in annual revenue.
Neither side responded to requests for comment on the negotiations, which were first reported by The Information.
Palo Alto Networks' acquisitions
If completed, the deal would be Palo Alto Networks' seventh acquisition this year. The company's previous acquisitions this year include Console, Embrace, Chronosphere and Koi.
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Similar moves are being made by other competitors in the market. Cyera acquired Oasis Security for $1 billion, while Cisco acquired Astrix for about $400 million.
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